April 26, 2017 / 1:48 PM / in a year

Brazil defaults rise in March, first gain in seven months

BRASILIA/SAO PAULO, April 26 (Reuters) - Brazilian loan defaults rose in March for the first time in seven months, the central bank said on Wednesday, a sign of caution as borrowers in Latin America’s largest economy still struggle with the impact of a three-year recession.

Loans in arrears for 90 days or more, a benchmark for delinquencies, rose to the equivalent of 5.7 percent of outstanding credit last month, from 5.6 percent in February, the central bank said in a report. (Reporting by Silvio Cascione and Guillermo Parra-Bernal; Editing by Chizu Nomiyama)

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